Overview of Microfinance Use Among Russians with Bank Loans
Recent findings show that nearly one in eight Russians holding bank loans has turned to microfinance organizations (MFOs) at least once. This data comes from a study conducted by the online lending platform Moneyman, part of the IDF Eurasia fintech group, as reported by RIA News.
The study was carried out over a two-week period in October, surveying 1,500 adults who already owed money to banks. Of those surveyed, 5.7% acknowledged that they sought microfinance in order to secure a loan, while 12.6% had some contact with microfinance providers during the period covered. Conversely, 87.4% of participants indicated that they had not used microcredit at all during the study.
When asked about the primary reasons for seeking a microloan to repay a bank debt, a large majority—76%—said the trigger was a delay in salary payments or another unexpected life event. The remaining 24% either found it difficult to identify a single reason or offered other explanations.
Greednev, the marketing director at Moneyman, commented on the results, noting that the level of microloan applications reflects a clear need for microcredit among citizens. He also stressed that such data does not automatically confirm that all microfinance providers are able to meet this demand. The point is to understand the demand pattern, not to imply guaranteed access or approval for all applicants.
In broader terms, the study suggests a notable financial shift: about half of the population indicates a willingness to consider credit for major purchases, including real estate. On the other hand, a significant minority remains firmly opposed to taking on debt under any circumstances. These attitudes reveal a mix of optimism about asset acquisition and caution about financial risk, a balance that lenders and policymakers watch closely.
It is important to note that past lending practices by microfinance institutions have influenced public sentiment. Some borrowers have reported stringent requirements or rigid terms, which can shape future decisions about seeking microfinance without reducing the visible demand for quick, smaller-scale credit options during times of financial strain. The evolving landscape underscores the need for transparent terms, clear repayment schedules, and accessible information to help borrowers make informed choices. Attribution: RIA News based on the Moneyman study, IDF Eurasia fintech group.
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